TSB staff are livid about Santander’s announcement that it’s agreed to buy TSB for £2.65 billion pounds. It seems like the two Spanish owned banks, Santander and Sabadell, have done the deal and left TSB’s UK senior management team out in the cold. All the information about the takeover is coming from Santander.
That doesn’t bode well for the future.
When there was speculation earlier this week about who was going to buy TSB, staff were told not to speculate and told that an announcement would be made on 24th July when Sabadell’s chief executive, Cesar Gonzalez-Bueno, unveiled his strategic plan.
To learn that TSB is being sold to Santander on the news is completely unacceptable and shows that Sabadell’s senior management team have no respect for staff.
In fact, it gets worse because it’s Santander who are saying that there will be jobs cuts and branch closures. TSB have said nothing so far.
The only certainty in this takeover is that there will be heavy job losses. Equally, it’s almost certainly the case that the TSB brand will disappear, albeit not immediately.
The campaign to make sure that the interests of staff are not lost in the rush to make money begins now.
Members with any questions should contact the Union’s Advice Team on 01234 716029 (Option 1).
MEMBERS SHOULD PASS THIS NEWSLETTER ON TO THEIR COLLEAGUES SO THEY TOO CAN BENEFIT FROM THE ONLY INDEPENDENT TRADE UNION IN TSB